The farms can produce protein for use in animal feed, reducing the use of other proteins like soy and fish
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Spotted: The world’s population is continuing to grow, and our food supply is going to need to grow with it. In fact, it is estimated that to meet rising demand, global food production will need to increase by 70 per cent by 2050, compared with 2005/7 figures. This is especially true for protein. However, increasing production of animal protein is expensive and environmentally unsustainable. One solution is to find new protein sources.
Now, UK startup Flybox is using insects to convert organic waste into protein. The company provides modular insect farms that help farmers create their own insect protein factories on-site. Unlike other insect-based solutions, Flybox’s turnkey system is aimed at smaller-scale farms, and the protein produced can be used as a substitute for soy or fish protein in livestock feed. The company highlights that its technology can help farmers increase their yield while improving the health of their animals.
To date, the company has raised over £700,000 (around €807,000) in pre-seed funding, including from a lead Angel investor with a history of successful investments in the insect farming space, as well as grants from Innovate UK and the Grantham Foundation. Flybox plans to expand its global footprint and build 1,000 insect farms by 2030, becoming the largest vendor of insect farm tech.
Written By: Lisa Magloff